Personal Banking
Money Market Savings Accounts
Our Money Market Savings Account combines the ability to earn interest with easy access to your money. You'll also receive a monthly statement with images of checks and deposits.
Rate information - The interest rate and annual percentage yield may change at any time.
Compounding frequency – Interest will be compounded monthly.
Crediting frequency – Interest will be credited into this account monthly.
Average daily balance computation method - Interest is calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. The period we use to make this calculation is monthly.
Accrual of interest on noncash deposits – Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.
Minimum balance to obtain the disclosed annual percentage yield – You must maintain a minimum average daily balance of $2,500.00 in your account to obtain the disclosed annual percentage yield. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. The period we use to make this calculation is monthly.
Deposit limitations – You may make an unlimited number of deposits into your account.
Withdrawal limitations – During any calendar month or statement cycle of at least four weeks, you may not make more than six withdrawals or transfers to another account of yours or to a third party by means of preauthorized or automatic transfer or telephone order or instruction. No more than six transfers may be made by check, draft, debit card (if applicable) or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the financial institution. A per debit fee of $0.50 will be charged for each check paid in excess of three, or any automatic debit, or payment out of this account in excess of three, for a total of six during a statement cycle.
Additional Terms - The following additional terms apply to this account:
- If the average daily balance is less than $2,500.00 the passbook savings rate as posted is applied.
- A monthly statement WITH images of checks and deposits will be rendered on the 15th or the last day of the month and mailed the following business day.
- A $5.00 fee is applied for a remake of statement with image of checks and deposits.
